Pennsylvania Revenue Department releases May collection figures
According to acting Secretary of Revenue, Eileen McNulty this figure is 2.6 percent or $49.8 million higher than anticipated. She also reported that $27.7 billion has been collected in this fiscal year, approximately 2.3 percent higher than estimated.
The Motor License Fund collected $206 million last month, which was $37.7 million below estimates. The fund has collected $2.4 billion through fuel taxes, fines, fees and licensing revenue this year, which was $94 million above estimates.
Personal income tax made up one of the largest segments of general fund collection at $775.4 million, and to date this segment has led to $10.9 billion in collections this fiscal year. Sale tax was the second-highest segment, amounting to $746 million, and to date sales tax has brought in $8.6 billion for the fiscal year. Sales tax was the only segment to fall below its estimated amount, according to the report.
Both inheritance and corporate taxes also saw increases over estimates in May with $73.8 million and $98.6 million, respectively. Realty transfer taxes and others on cigarettes, alcohol and table games also saw increased collection for the month.